The acai berry market is expected to grow significantly, with a valuation of US$ 1,656.7 million by 2023. The market is showing a significant trend, with a CAGR of 4.2% predicted to last until 2033. Consistent growth predictions indicate that the worldwide acai berry market is on track to reach a whopping US$ 2,500.5 million by 2033.
Typically found in Central and South America, the acai berry is a reddish-purple fruit that grows on the acai palm tree. It is a delectable dark fruit that is rich in phytonutrients including anthocyanin, a form of antioxidant, and vitamins C and E. Acai has a lot more antioxidants than well-known fruits like blueberries, oranges, and even red wine, according to studies.
Because of its strength, this fruit is commonly referred to as the “Amazon Viagra.” Acai is abundant in fibre, vitamins B1, B2, B3, vitamin E, vitamin C, calcium, potassium, protein, and the omega-6 and omega-9 fatty acids. It also contains a significant amount of fibre. It contains fibre in addition to the antioxidants indicated above. As a result, acai berry market demand may rise.
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Acai Berry Market: Drivers & Restraints
Consumers are shifting their tastes towards nutritious fruits, vegetables, and beverages as the occurrence of health issues rises. As a result, the market for acai berries is expanding rapidly. Consumers are becoming more aware of the numerous advantages of acai berries and are gravitating towards acai berry-based goods. Acai berry fruits have significant antioxidant capabilities that improve overall health and aid in weight loss.
Another key driver for the acai berry market is the expansion of the organic cosmetic business, which is also contributing to the increase in demand for acai berries.
However, there are many threats for the acai berry market in the form of conventional allopathic medicines and chemical based cosmetics. Growth of nutraceutical industry might prove detrimental for the acai berry market.
Acai Berry Market: Segmentation
The acai berry market can be segmented on the basis of application. This can be further segmented into Functional Food and Beverages, Pharmaceuticals, Dietary Supplements, Personal Care/ Cosmetics and Others. The market can also be segmented on the basis of form of availability, viz; pulp, juice and powder.
Acai Berry Market: Region Wise Outlook
Geographically, the acai berrymarket is segmented into seven regions which are ; North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific Excluding Japan (APEJ), and Middle East and Africa (MEA) and Japan. Among all the countries, Brazil and America is leading in terms of volume in the global acai berrymarket followed by Asia Pacific, North America & it is expected that in near future, Asia Pacific is going to lead this market.
Acai Berry Market: Key Players
Some of the key players across the value chain dominating this market are The Berry Company Llc, Phyto Nutraceutical Inc., Jinan Felicity Biotechnology Co., Ltd, and Pharma Nutra USA. These companies are developing market strategies such as mergers and acquisitions, Joint Venture, New product development and Expansion to increase their market share in Global Functional Beverages Market.
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